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Calloway REIT Declares December 2010 Distribution

TORONTO, ONTARIO--(Marketwire - Dec. 17, 2010) - Calloway Real Estate Investment Trust ("Calloway") (TSX:CWT.UN) announced that the trustees of the REIT have declared a distribution for the month of December 2010 of CDN$0.129 per trust unit, representing CDN$1.548 per unit on an annualized basis. Payment will be made on January 17, 2011 to unitholders of record on December 31, 2010.

About Calloway

Calloway Real Estate Investment Trust is an unincorporated open-end real estate investment trust created to invest in a geographically diversified portfolio of high quality retail shopping centres in Canada.